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Mediterranean Bistro In Manhattan For Sale

Manhattan, New York, US
Asking Price:
$175,000 Inventory / Stock included
Sales Revenue:
$480,000
Cash Flow:
$48,000

This beloved Mediterranean Bistro, located on a trending restaurant row in Manhattan, re-opened in April 2021 to glowing reviews. You now have the opportunity to purchase this gem with the knowledge that you will be inheriting a 13 year lease, which the seller had deftly negotiated down from $4,000/month to just $2,200/month. That's a savings of $280K over the life of the lease. Run absentee now, were you to be more hands-on, you should be able to make a lot more than the $48K the seller takes out now. Water is included in the rent at no additional cost. All of the furniture, fixtures, and equipment are still intact, as seen in the photos. Closed Mondays and Tuesdays, you may want to stay open then. The seller says that a new owner may also want to make some changes to the staff in order to appeal more to the existing and potential customer base. Of course, you can put your own concept into this space, taking advantage of the way below market rent and the furniture, fixtures, and equipment, which will remain. There is a lot of delivery app business to be had here, too, especially given that the bistro is located a couple of blocks either way from two major hospital systems. The seller recommends that the new owner(s) be hands-on, therefore, replacing one or more of the current employees and pocketing their salaries for yourself. Lastly, it would be a good idea to continue to serve beer & wine here. A license for such is much easier to get than a full liquor license. Last but not least, there is an attractively built outdoor dining structure in the street in front of the restaurant, thus adding to the indoor seating capacity. Please do not speak with any of the employees or customers when visiting the location, as they do not know it's for sale. Instead, kindly email the listing broker, Jay Goldman to make an appointment to meet with the seller to get a full tour of the facilities and ask some questions. If you are new to Vested, please become a free registered buyer under in order to see some further confidential details. In order to obtain the name & address of the business, upgrade to premium membership right away.

Business Operation

Reasons for selling:

Consolidating his business affairs. Lives in Miami, FL most of the time.

Employees:
3FT
Years established:
2016

Other Information

Support & training:

Seller will train

Owner financing:
Owner financing is available. Please contact the seller for more information.
Financing available:

100,000.00 Down & $100,000.00 at 5% over 24 months

Furniture / Fixtures value:
$25,000
Inventory / Stock value:
$2,500 - included in the asking price

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